Ballentine Partners LLC Raises Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Ballentine Partners LLC increased its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 38.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,923 shares of the energy company’s stock after acquiring an additional 2,741 shares during the period. Ballentine Partners LLC’s holdings in Ormat Technologies were worth $711,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. EntryPoint Capital LLC acquired a new stake in shares of Ormat Technologies during the 1st quarter worth approximately $50,000. GAMMA Investing LLC grew its position in Ormat Technologies by 115.3% during the second quarter. GAMMA Investing LLC now owns 730 shares of the energy company’s stock valued at $52,000 after buying an additional 391 shares during the period. Manchester Capital Management LLC increased its holdings in Ormat Technologies by 593.0% in the fourth quarter. Manchester Capital Management LLC now owns 797 shares of the energy company’s stock valued at $60,000 after buying an additional 682 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Ormat Technologies by 50.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,540 shares of the energy company’s stock valued at $117,000 after buying an additional 514 shares in the last quarter. Finally, TFO Wealth Partners LLC raised its position in shares of Ormat Technologies by 9,066.7% in the fourth quarter. TFO Wealth Partners LLC now owns 275 shares of the energy company’s stock worth $227,000 after acquiring an additional 272 shares during the period. 95.49% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Ormat Technologies

In other news, Director Dafna Sharir sold 433 shares of Ormat Technologies stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $74.91, for a total transaction of $32,436.03. Following the transaction, the director now owns 3,561 shares in the company, valued at approximately $266,754.51. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on ORA shares. Oppenheimer lifted their price target on Ormat Technologies from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Roth Mkm reaffirmed a “buy” rating and set a $80.00 target price on shares of Ormat Technologies in a research note on Monday, August 12th. UBS Group lifted their price target on shares of Ormat Technologies from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. JPMorgan Chase & Co. upped their price objective on shares of Ormat Technologies from $69.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Finally, Barclays dropped their target price on shares of Ormat Technologies from $75.00 to $73.00 and set an “equal weight” rating on the stock in a research report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $81.67.

Ormat Technologies Trading Down 1.1 %

Shares of ORA opened at $72.01 on Tuesday. Ormat Technologies, Inc. has a 52-week low of $58.73 and a 52-week high of $78.51. The stock has a market cap of $4.35 billion, a PE ratio of 32.44, a price-to-earnings-growth ratio of 3.57 and a beta of 0.53. The firm’s fifty day moving average is $73.78 and its two-hundred day moving average is $70.28. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.72.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.03. Ormat Technologies had a net margin of 14.89% and a return on equity of 5.40%. The firm had revenue of $212.96 million for the quarter, compared to the consensus estimate of $214.07 million. During the same period last year, the firm posted $0.40 earnings per share. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. Research analysts forecast that Ormat Technologies, Inc. will post 2.04 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were given a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.67%. Ormat Technologies’s dividend payout ratio (DPR) is presently 21.62%.

Ormat Technologies Company Profile

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, Guadeloupe, New Zealand, Honduras, and internationally. It operates in three segments: Electricity, Product, and Energy Storage. The Electricity segment develops, builds, owns, and operates geothermal, solar photovoltaic, and recovered energy-based power plants; and sells electricity.